Member of the IDB Group

CR3882A-01: Banca Promerica

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org

Project Group

Project

Banca Promérica is a small commercial bank that provides a diverse range of services, such as medium- and long-term corporate loans and housing and vehicle financing, principally to low- and medium-low-income households. The loan from the IIC will help Promérica provide financing of up to $120,000 per loan. It will also enable Promérica to better match the terms of its liabilities and assets and thus become more profitable.

Investment Summary

The proposed project consists of a long-term loan of up to US$3 million to Banca Promérica. The loan proceeds will be used to finance small and medium-size Costa Rican enterprises that require medium- and long-term funds to finance expansions, the acquisition of fixed assets or machinery, or working capital, as well as financing low-middle and middle income mortgage loans.

Environmental and Social Disclosures

Review of Environmental, Social, and Labor Issues

Environmental Review:

Environmental Classification and Issues:

This is a category III project according to the IIC's environmental and labor review procedure because it could produce certain effects that may be avoided or mitigated by following generally recognized performance standards, guidelines, or design criteria. To enable the bank to better understand the IIC's requirements and become familiar with the operating procedures that leading financial institutions are implementing in response to global environmental issues, the bank has agreed to send two individuals to the IIC financial intermediary environmental training workshop.